TAKAUD organises employee savings seminar for 250 financial managers

January 29, 2014 12:06 pm

TAKAUD, the specialist savings and pensions provider for the MENA region, has recently hosted the first educational seminar for the Bahrain Chapter of the Institute of Chartered Accountants of India (BCICAI) for the year 2014. The inaugural seminar, titled “Maximise the Power of Goodwill in Your Workforce”, was held at the Crown Plaza Hotel, Bahrain and attracted a large audience of 250 professionals.

The seminar was addressed by savings and investment experts from TAKAUD and BlackRock, one of the world’s biggest fund managers, with topics covering ‘Increasing the Productivity of Your Workforce’, ‘How to Invest for the Long Term’ and ‘Managing Your Own Money’. The key theme discussed was employee savings and benefit packages and their long term positive implications for both regional employers and their employees. In summary, the key recommendation of the seminar is that in order for MENA businesses to maintain their competitiveness and long term profitability, it is essential for them to reduce staff turnover (which is currently much higher in the MENA region than Western markets) and retain their experienced human capital, which would in turn improve profitability by limiting the extra expense associated with recruiting and training new employees.

From an employee perspective, the seminar highlighted the fact that staff would be motivated to develop longer term careers with an employer if there were efficient savings mechanisms in place, which would help them to plan and save for their long term futures.

Commenting on the event’s success, Mr. Eric Van Biesen, Acting Chief Executive Officer TAKAUD, said: “TAKAUD is delighted for its successful partnership with BCICAI to highlight and address the important topic of employee savings and benefits and their impact on the MENA region’s businesses. We look forward to a continued collaboration on future events and to TAKAUD’s continued role as a thought leader on all aspects of pensions and savings across the region.”

Mr. Sanjay Gupta, Chairman of the Bahrain Chapter of the Institute of Chartered Accountants of India said: “Our event, which was oversubscribed, reflected the importance of saving and financial planning both for corporates as well as individuals across the GCC and wider MENA region. I would like to thank the TAKAUD and BlackRock teams for their in-valuable insight and expertise, which highlighted the real need for the region’s businesses to introduce new employee benefits and savings structures, which over the long term, would help them to recruit reward and retain staff and ultimately be more profitable.”

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